The Nigerian All-Share Index (ASI) wrapped up trading on December 5, 2024, on a slightly negative note, retreating by 60.88 points to close at 98,114.11.
Despite maintaining its position just above the 98,000-threshold, the index recorded a modest decline of 0.06%, signaling a minor pullback even as market activity showed signs of life.
In a notable turn, trading volume surged significantly, with a total of 722 million shares changing hands — a robust 38.52% increase compared to the previous session.
Market capitalization held steady at an impressive N59.4 trillion, buoyed by 8,495 individual transactions throughout the day.
Among the day’s top performers, UPL led the charge with a 10.00% surge, closely followed by CORNERST, which also gained 10.00%. STERLINGNG rounded off the top three with a strong 9.98% increase.
On the flip side, REDSTAREX led the losers, shedding 10.00% of its value, with FTNCOCOA following closely behind, dropping by 5.61%.
In terms of trading activity, CHAMPION and FIDELITYBK emerged as the day’s most actively traded stocks, capturing the market’s attention with substantial volumes.
Market Summary
- Current ASI: 98,114.11 points
- Previous ASI: 98,174.99 points
- Day Change: +0.06%
- Year-to-Date Performance: +31.21%
- Volume Traded: 722.9 million shares
- Deals: 8,495
Top 5 gainers
- UPL: up 10.00% to N3.96
- CORNERST: up 10.00% to N3.30
- STERLINGNG: up 9.98% to N4.85
- SUNUASSUR: up 9.98% to N4.63
- GOLDBREW: up 9.84% to N4.91
Top 5 losers
- REDSTAREX: down 10.00% to N4.41
- FTNCOCOA: down 5.61% to N1.85
- NPFMCRFBK: down 3.23% to N1.50
- NEIMETH: down 2.78% to N2.10
- PRESTIGE: down 2.50% to N0.78
Trading volume:
On December 5, 2024, the Nigerian equities market experienced a significant uptick in trading activity, with volume rising by 38.52%. A total of 722 million shares exchanged hands, up from 521 million shares in the previous session.
- CHAMPION dominated the day’s trading, with a commanding 300.9 million shares traded, making it the most actively traded stock.
- FIDELITYBK followed with 48.5 million shares, while GTCO was not far behind, with 40.1 million shares changing hands.
- Other notable contributors included ACCESSCORP (35.6 million shares) and WAPCO, completing the top five with 29 million shares traded.
Trading value:
In terms of value, GTCO led the charge with a substantial N2.1 billion in transactions.
- WAPCO followed closely, with N2.0 billion in trade value, signaling continued investor interest.
- MTNN and CHAMPION also attracted significant attention, contributing N1.9 billion and N1.2 billion to the day’s total value, respectively.
- ACCESSCORP rounded out the top five with N858.8 million in transactions, further reflecting robust investor engagement in key stocks.
SWOOT and FUGAZ stocks
Among the SWOOT stocks — those with market capitalizations exceeding N1 trillion — only ARADEL experienced a decline, shedding 1.48% during the session.
- Meanwhile, the FUGAZ group, which includes FBNH, UBA, GTCO, ACCESSCORP, and ZENITH BANK, saw positive price movements across the board.
- ACCESSCORP led the charge with a notable 1.84% increase, followed by GTCO with a modest 0.19% gain, and UBA with a slight uptick of 0.15%.
On the other hand, FBNH saw a small dip of 0.38%, while ZENITH BANK experienced a more significant decline of 1.68%.
Outlook
- If the positive momentum among individual stocks continues in the coming sessions, there is potential for the index to climb toward the 99,000 mark and surpass the N60 trillion market capitalization threshold.
- With bullish sentiment steadily building across multiple sectors and sustained investor interest, the Nigerian equities market is expected to maintain its upward trajectory in the near term.
